Sensex at new peak, Nifty within striking distance of 10,000 on corporate earnings boost

Mumbai: Markets broke new ground on Monday as the Nifty came tantalisingly close to 10,000 and the Sensex signed off at 32,246 after banking stocks came alive on better-than-expected quarterly results.

Oil and gas, IT and FMCG stocks also threw their weight behind the rally.

There was cheer on the growth front as the International Monetary Fund (IMF), in its World Economic Outlook Update, retained India GDP forecast at 7.2 cent for the current fiscal, saying the country will pip China in growth sweepstakes in 2017 and 2018 as well.

The 30-share BSE barometer rose to all time intra-day high of 32,320.86 as index heavyweight Reliance Industries, ITC and TCS registered strong gains.

The Sensex settled higher by 216.98 points, or 0.68 percent, at 32,245.87, a closing record.

The NSE Nifty too broke free and hit an all time high of 9,982.05 in day's trade. However, it closed at 9,966.40, a life high, up 51.15 points, or 0.52 percent, over its last close.

Reuters

Reliance Industries raced to 52-week high on better than estimated earnings and announcement of bonus share. It closed with gains of 1.89 percent on the BSE.